Accounting profit vs economic profit | APⓇ Microeconomics | Khan Academy

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A rational agent considers both accounting profit and economic profit. In this video, see an example highlighting the difference between accounting profit and economic profit from a business and a discussion of explicit and implicit costs of operating a business.

AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.

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